Hey guys! There are thousands of cryptocurrencies, so how do you filter through this junk?
- I avoid using marketcap sites that list any old junk. If you use CoinGecko, for example, you'll come across more than 14,000 tokens, instead of CoinMarketCap's 25 million.
- Cryptocurrencies that don't have trading volume don't deserve investment. Give priority to cryptocurrencies with daily volumes of at least $1 million.
- The more centralized exchanges, the better. If the token is only on a few exchanges or only on dex, run away!
- Cryptocurrencies with social, religious, political or sports appeal. Have you ever heard that this subject is not discussed? Yes, in the crypto world, we don't invest money.
- Brazilian cryptocurrencies, none of them have taken off so far
- Very old cryptocurrencies with a drop in ATH (historical high) in each cycle.
- Very new cryptocurrencies recently launched on the market.
- Cryptocurrencies with a very high or infinite supply, if I were to suffer from inflation I would stay in the real.
- Cryptocurrencies without a defined purpose, such as meme coins.